Personal bankruptcy on the rise in Saguenay – Lac-Saint-Jean

For the first seven months of 2015, the number of personal bankruptcies in the region increased by 15.6% compared to 2014. “In Saguenay-Lac-Saint-Jean, the rate of increase in personal bankruptcies was double the Quebec average,” confirms Éric Morin, Partner and Trustee. To learn more, read the article.

The report, which was published today (available on our website in French), is the product of several months of analyses and meetings, as part of the government initiative announced on November 18, 2014 on the social acceptability of projects to develop public land and energy and mineral resources.

“We are happy to have contributed to this strategic exercise to support more balanced project development in Quebec. I am particularly pleased with the interest expressed by meeting participants and their willingness to share their experience. Needless to say, times have changed and it is imperative to ask questions and suggest new ways of doing things. I also commend the MERN for having taken on this major project, even if it ultimately concerns the whole of government, as noted by several participants,” stated Gélinas.

The key takeaways from the report include the need, among others, to develop a government-wide vision of social acceptability based on a concerted approach. The analysis also recommends building on information and communication to ensure that any person interested in a project―developers, municipalities or citizens―can get answers to their questions. The report also stated that providing support and better guidance to such actors is also a key social acceptability factor.

“Our firm’s report, prepared in collaboration with Transfert Environment and Society, suggests avenues for discussion. This is an initial exercise in reflection with concrete suggestions that the MERN and civil society will need to hone in the months to come,” concluded Gélinas.

About Raymond Chabot Grant Thornton

Founded in 1948, Raymond Chabot Grant Thornton (www.rcgt.com) has become a leader in the fields of assurance, tax, consulting services, and business recovery & reorganization. Its strength is based on a team of over 2,500 people, including some 230 partners. Together, Raymond Chabot Grant Thornton and Grant Thornton LLP, another Canadian member firm of Grant Thornton International Ltd, help dynamic Canadian organizations unlock their potential for growth with over 4,300 people and some 140 offices across Canada. Grant Thornton International Ltd provides clients with the expertise of member and correspondent firms in more than 130 countries, with over 40,000 people.

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Taxes: students unaware of credits and deductions

Luc Lacombe, Taxation Partner at Raymond Chabot Grant Thornton, appearing on the Argent channel, presents some tax deductions and credits of which students and parents are often unaware.

Moving expenses

A student who moves from at least 40 km from school can obtain financial benefits. To claim a deduction, he can submit his bills for the moving truck, gasoline and even pizza for friends who helped him move. However,the amount is deductible from the bursaries the student receives. If the student has no bursaries or if the financial assistance is not taxable, this deduction cannot be claimed. In such a case, Luc Lacombe recommends making the deduction from employment income, because credits are also available when you move to find work. “A student who leaves the Laurentians to go to the Université de Montréal, for example and who finds a job, can claim his expenses,” the expert points out.

The solidarity tax credit

Students may also be entitled to the solidarity tax credit for low-income individuals. This credit is paid even to people who do not pay income taxes. “A student who never files a tax return loses a benefit (…). By filing a return starting at age 17, the student will be entitled to this credit, which will be deposited automatically in his bank account.”

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Dual Recognition for Réal Létourneau from Université de Sherbrooke and La Tribune

Congratulations to Réal Létourneau, Partner and Regional Vice-President for over 15 years, who was recently named Ambassador by the Université de Sherbrooke and received a Mérite estrien award from La Tribune.

An Ambassador Who Played an Active Role in Regional Development
The 20th edition of the Gala du rayonnement de l’Université de Sherbrooke recently paid tribute to a number of alumni members who have paved a path of excellence for future generations. Réal Létourneau was named Ambassador of the Management Faculty. The University stated that, in addition to an illustrious career at Raymond Chabot Grant Thornton, this former Chairman of the Sherbrooke chamber of commerce in the late 1980s played a pivotal role in the region’s development and growth. He has inspired harmony, leadership, confidence and innovation in everything he does.

A Sherbrooke Native Who Gives Back to His Region
In addition to his alma mater’s recognition, Réal also received an award from the daily newspaper La Tribune. Each week, La Tribune awards a Mérite Estrien. At a special event in February 2016, fifty individuals will be recognized for their ongoing commitment and dedication to their community, out of sheer uninterested passion and with little regard for the hours spent. Our partner was honoured for his tremendous contribution to the Eastern Townships’ development.

To learn more about Réal Létourneau and his life, read the excellent article (in French) “La réussite en trois volets” published in the October 13th edition of La Tribune.

Kudos to Réal Létourneau for these two prestigious awards and for an outstanding career that reflects so well on Raymond Chabot Grant Thornton, the Université de Sherbrooke and the entire Eastern Township community!